Cirius Therapeutics (fka Octeta Therapeutics), a Kalamazoo, Mich.- and San Diego, CA-based clinical-stage pharmaceutical company focused on developing therapies to treat liver disease, closed a Series A financing of up to $40m.
The round was led by Frazier Healthcare Partners and Novo A/S, with participation from new investors Adams Street Partners and Renaissance Venture Capital Fund, as well as existing investors Hopen Life Sciences Ventures. In conjunction with the financing, Dan Estes, Ph.D., from Frazier Healthcare and Nilesh Kumar, Ph.D., of Novo A/S will join Baltera’s board along with existing representatives David Van Andel, Mike Jandernoa and Robert Zerbe, M.D.
The company will use the proceeds to complete the ongoing Emminence trial, a Phase 2b study of MSDC-0602K, a next-generation insulin sensitizer, for the treatment of patients with non-alcoholic steatohepatitis (NASH) and liver fibrosis.
Led by newly appointed chief executive officer Bob Baltera, chief medical officer Howard Dittrich, M.D., and chief business officer Brian Farmer, Cirius Therapeutics is a clinical-stage pharmaceutical company focused on developing therapies to treat liver disease. The company’s lead product is MSDC-0602K, a second-generation insulin sensitizer for the treatment of NASH. Cirius is actively enrolling patients in a Phase 2b clinical trial called the Emminence trial, to evaluate MSDC-0602K in patients with NASH and liver fibrosis.